Advantages of e-Auctions for Businesses

online procurement software

Nothing beats the experience of buying or selling personal use products and services online in today's time - the advantages of buying and selling on the internet are enormous. However, have you ever explored the world of e-Auctions for your business? With everything shifting on the digital side, there has been a steep rise in the online auctions for finalizing deals in the B2B space. It has not only transformed how e-Auctions were conduct ed but also replaced a lot of things including the need for physical presence, especially when there are restrictions on movement or involvement of senior management is required.

But that's not it !! Depending on the e-auction software procurement from service providers like ProcurEngine comes with many other benefits. So to discover it, keep reading until the end.

Few Advantages of e-auctions for Businesses!!

The following will help you to understand the benefits and why you should opt for e-auction tools from service providers like Procurengine.

  • No geographical restrictions
  • One of the biggest advantages of relying on e-auction software procurement is the convenience it brings along where there is the absence of any geographical boundaries.

    It does not matter where the seller or the buyer is located, both of them get the advantage of reaching out to each other.

    The item is listed and made available for bidding online so that all the qualified bidders get a chance to bid for the products and services. They can outbid fairly and remotely. In the end, whoever makes the better offer wins the bid.

    In simple words, online auction platforms created by e-auction service providers in India like ProcurEngine have completely eliminated the limitations of typical actions, such as having to attend the actual bidding even if you were not sure of what you wanted to buy.

  • Welcomes all types of products
  • E-auction tools and platforms have simply eliminated the barrier of not being accepted. It gives a golden chance to the sellers to put anything for auction.

    Be it Opex Item, Capex, Stationery Items, Raw Material, logistics or any other services - anything can be included.

    It has proven to be a victory because the suppliers are confident in their ability to sell a commodity without a problem.

    These e-auction tools have options where bidders can be selective as per their abilities to move forward.

  • Attracting Good Suppliers repeatedly
  • Once a good supplier is able to close a good deal quickly on an online auction platform created by e-auction service providers in India like Procurengine, they would come back for more. The platform gives them quick results with low efforts.

    Furthermore, this increases the chance of gaining other suppliers as they would start referring their experience to their industry acquaintances.

  • Flexibility of time
  • Besides offering no geographical restrictions, the e auction software open source platform offers flexibility of time during pre-bid quotation. The auctions happen at a predefined narrow window of time, so supplier can effectively utilize their time.

  • Transactions are quick and reliable
  • Those who have attended auctions earlier, already know how monotonous, full of hassle and time consuming they can be.

    On the other hand, e-auction software procurement by service providers like Procurengine can leave a unique experience.

    Be it a small purchase like a consumables or a large one like Capex procurement are prone to delays undoubtedly. They might end up taking months to execute.

    The average time that it takes to complete a complex procurement process online through e-auction tools is only around two to three weeks which makes it both quick and reliable.

  • Get quick response
  • If you have ever made a request for quotation (RFQ), then you are already aware of the fact that you have to wait for some time for the RFQ’s response.

    Everything ends up being a suspense including if the RFQ will generate adequate interest or not. The wait can be long - sometimes it can even take months. In worse cases, the finalization may not be certain either.

    However, when you choose to use e-auction software procurement from developers like ProcurEngine, you get instant feedback.

    All your wait and queries end up within a matter of minutes. Also, you may witness a lowering of prices due to close interactions and the suppliers adjust the prices accordingly to succeed.

  • Transact Directly with Large Supplier
  • It is unarguably true that online auctions do produce enticing and fascinating deals. This choice of switching online is made a lot more exciting as there is direct engagement with the supplier while you negotiate. Sometimes, the reason behind the large price disparity is the lack of intermediaries, brokers, or agents in the negotiation process. Hence, this leads to special treatment and emphasis is on fairness.

    The best e-auction service provider to count on!! As now you know the benefits that businesses can gain from depending on e-auction tools, it is suggested to switch to the best procurement solutions.

    With so many options to select from in the market, introduce yourself to ProcureEngine, which is a leading and trusted enterprise partner.

    They can help you create an exclusive range of digital negotiations in a quick manner through their advanced solutions.

    From adding unique features, and multiple negotiation options to customized solutions, this e-auction service provider in India can cater to all your diverse needs at competitive rates.